GP Induráin update: private sponsors pull out

It was reported last week that traditional Basque one-day classic GP Miguel Induráin might not see the light of day this year due to budgetary shortcomings. Public funding was likely to be reduced and sponsors from the private sector were having trouble coming up with the money needed to stage Navarra's only professional bike race. It now transpires there are no private sponsors. They've all pulled out, reports El Diario de Navarra.

In the coming days, organizers of the race will meet with the director of the Institute of Sport in Navarra to get some clarity on the issue. Head of the institute, Miguel Pozueta, was not giving anything away when speaking to the press a few days ago.

"It's an important race and therefore also an expensive one, but we'll have to talk it over with them (the organizers)", Pozueta said. "The budgetary cuts will affect everyone, them included".

The regional government will continue their backing of the race, but will reduce their support with approximately 10-15%. That means public money will cover just about half the budget. The local cycling club CC Estella, organizers of the hilly classic won last year by Samuel Sánchez, aren't having an easy time finding the other half.

"Private companies don't know if they'll be able to support us, so they prefer to be cautious instead".